JAMESTOWN – The owners of a piece of property in Jamestown are seeking to extend the length of time they have to wait before making a full payment of property taxes to the city, county and school district.
The Chautauqua County Industrial Development Agency will host a public hearing Tuesday morning, Jan. 17, regarding the extension of a Payment in Lieu of Taxes (PILOT) agreement with the owners of Covenant Manor Apartments in downtown Jamestown.
The PILOT extension is being requested by Millennia Housing Development on behalf of Prairie Covenant NY, L.P., which owns the 88-apartment, eight-story building at 23 W. Third St. (located on the southeast corner of Third and Cherry Streets).
The request is for a seven-year extension of the 10-year PILOT that is currently in place and which was first approved in 2012. This would increase the property tax abatement period to a total of 17 years, up to the year 2030.
Representatives from the city of Jamestown are expected to be on hand for hearing to make a statement. Other residents and officials are also expected.
The hearing will take place at 11:30 a.m. in the IDA offices conference room, located on the 2nd floor of the BWB building at 201 W 3rd Street. It is open to the public.
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